cost-of-living allowance Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “cost-of-living allowance” in the English Dictionary

"cost-of-living allowance" in British English

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cost-of-living allowancenoun [C usually singular]

uk   us  
an ​amount of ​money that an ​employee gets in ​addition to his or her ​normalpay, because the ​cost of ​living in a ​particulararea is high: Nurses ​working in the ​capitalreceive an ​additional 7.5 ​percent cost-of-living ​allowance.
(Definition of cost-of-living allowance from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"cost of living allowance" in Business English

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cost of living allowancenoun [C]

uk   us   ( abbreviation COLA)
ECONOMICS, HR extramoney that some ​people receive from their ​employer, for ​example, because they ​work in an ​area that is very ​expensive, or because ​prices have ​increased: A ​cost of ​livingallowance is ​paid to ​cover the ​additionallivingcostsincurred by ​employees who are ​living away from ​home.
(Definition of cost of living allowance from the Cambridge Business English Dictionary © Cambridge University Press)
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